April 4, 2017 / 10:27 AM / 2 years ago

Toshiba seeks new loan, offers stake in memory chip unit as collateral: sources

The logo of Toshiba is seen as a shareholder arrives at Toshiba's extraordinary shareholders meeting in Chiba, Japan March 30, 2017. REUTERS/Toru Hanai

TOKYO (Reuters) - Toshiba Corp on Tuesday asked creditor banks for a new loan and offered a stake in its memory chip unit that is being split off as collateral, sources with direct knowledge of the matter said.

In a meeting with creditor banks, the troubled electronics conglomerate asked for “a new lending facility”, said the sources, who did not want to be named as they were not authorized to discuss the matter publicly.

Toshiba did not specify how much loan it was seeking, most of the sources said. However, one source said the new loan may be worth around 300 billion yen ($2.7 billion).

Reporting by Taiga Uranaka and Taro Fuse

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